Sun Corporation received a charter that authorized the issuance of $93,000$ shares of $$3$ par common stock and $19,000$ shares of $$125$ par, $8$ percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year $1$

January $5$ Sold $13,950$ shares of the $$3$ par common stock for $$5$ per share.

January $12$ Sold $1,900$ shares of the $8$ percent preferred stock for $$135$ per share.

April $5$ Sold $18,600$ shares of the $$3$ par common stock for $$7$ per share.

December $31$ During the year, earned $$304,900$ in cash revenue and paid $$239,500$ for cash operating expenses.

December $31$ Declared the cash dividend on the outstanding shares of preferred stock for Year $1.$ The dividend will be paid on February $15$ to stockholders of record on January $10,$ Year $2.$

Year $2$

February $15$ Paid the cash dividend declared on December $31,$ Year $1.$

March $3$ Sold $2,850$ shares of the $$125$ par preferred stock for $$145$ per share.

May $5$ Purchased $450$ shares of the common stock as treasury stock at $$6$ per share.

December $31$ During the year, earned $$247,100$ in cash revenues and paid $$180,000$ for cash operating expenses.

December $31$ Declared the annual dividend on the preferred stock and a $$0\mathrm{.}75$ per share dividend on the common stock.

Problem $11-26$A $($Algo$)$ Part a

Required

a$.$ Organize the transaction data in accounts under an accounting equation.